Privately owned cloud company Vultr is reportedly looking to raise at least $1 billion in new capital.

Vultr is said to be working with Goldman Sachs on the funding effort, which could potentially reach "billions of dollars" of debt and equity.

According to The Information, citing people "with direct knowledge of the process," the capital will be used to help Vultr compete in the AI compute race.

DCD has contacted Vultr for comment.

The cloud company previously completed a funding round in December 2024 that raised $333 million, led by LuminArx Capital Management and AMD Ventures. Goldman Sachs & Co. LLC also served as financial advisor to Vultr for that transaction.

That funding round valued Vultr at $3.5 billion, though a new deal would likely push that valuation up.

In 2025, DCD exclusively reported that the company was looking to do an initial public offering at "some time in the coming years," with chief marketing officer Kevin Cochrane explaining that the December 2024 round was done, in part, to "start setting us upon the path."

Vultr, founded in 2014, currently operates out of 32 cloud locations globally.

AMD is an investor in the company, and Vultr has previously announced plans for a 50MW GPU cluster using AMD chips in Springfield, Ohio.

The company has also confirmed plans to offer an "optimized inference stack" based on the Nvidia Rubin platform, which can be deployed on public, private, or sovereign clouds by customers.